20 July 2018
Cisco today, 19 July 2018, announced a $100m commitment to help accelerate digital innovation in the UK.
As one of the first initiatives to be announced, Cisco and University College London (UCL) will partner to open one of the world’s largest Artificial Intelligence research centres, with a focus on addressing industry challenges and developing AI talent in the UK.
Prime Minister Theresa May said: “The decision by Cisco to make such a significant commitment to digital innovation across the UK is welcome news and is a vote of confidence in our Modern Industrial Strategy.
“I particularly welcome the announcement of the new AI research centre in partnership with UCL. Research has shown that AI could add £232bn to the UK economy by 2030 and developments like this will help with our ambition to put the UK at the forefront of the AI and data revolution.”
Digital Secretary Jeremy Wright said: “The UK has become the natural destination in Europe for the largest and most innovative tech companies to operate and invest. Cisco’s strong commitment to the UK highlights we have the ambition, research excellence and regulatory environment for world-leading firms to develop the innovations that will change people’s lives for the better.”